June 5, 2016 |
On the bookcase in my younger son's bedroom sits a pile of earbuds that would take probably a day or more to unravel to make them usable. What do I need with 20 earbuds, right? Such a task is analogous to writing about the residential real estate market, especially since the housing bubble burst in 2006-2007. Today's example: A report by the Mortgage Bankers Association of America on the reasons why there is what the group calls "an affordability crisis" in rental housing. "Demand for rental housing has greatly outstripped supply, rapidly pushing vacancies down and rents up even as incomes fell," said Lynn Fisher, the group's vice president for research and economics.
September 29, 2014 |
Retirees and émigrés from northern New Jersey, Simeon and Mary Carvajal fell in love with Cape May, the Villas, and other towns farther south along the Jersey coast. They started out as Shore property owners in 2011, buying one house, a cottage, as a vacation retreat for themselves. Now they're looking to buy their fourth seashore property. After the first house, the Carvajals bought an additional vacation home just down the street, in the 100 block of Roslyn Avenue in North Cape May. Then, as a retirement present last summer, Simeon bought Mary a third house in the same neighborhood, on the 300 block of Roslyn, as an investment property for $295,000.
November 10, 2012 |
rePresident Obama's re-election fueled some early investor concern that homeowner refinancing was set to increase after debt yields tumbled, and amid speculation that his administration would pursue aggressive measures to boost housing's recovery. Real-estate investment trusts that buy mortgage debt tumbled the most in a year on Wednesday with the expectation that more homeowners would be able to prepay mortgages. The policies of Obama and the Federal Reserve have expanded opportunities for homeowners to qualify for new loans while sending borrowing costs to record lows.
September 4, 2012 |
Struggling New Jersey homeowners, facing a quickening rate of foreclosures, are supposed to have a lifeline: the HomeKeeper program, run by the state and funded with $300 million from the federal bank bailout. But 15 months after the program was launched, the state says only 10 percent of that money has been spent, to help just 750 homeowners. According to a report from a U.S. special inspector general, New Jersey has drawn the lowest percentage of federal money available to the 18 "hardest-hit" states.
August 16, 2012
Mortgage applications fell 4.5 percent last week from the previous seven days, the Mortgage Bankers Association said Wednesday. Refinancing fell 5 percent, while mortgages originated to purchase property were down 2 percent. The refinance share of mortgage activity decreased slightly from the previous week to about 81 percent of total applications. The adjustable-rate mortgage share of activity is almost 4 percent of total applications, the bankers' group said. - Alan J. Heavens
June 14, 2012 |
Mortgage applications last week reached their highest level since May 2009, the Mortgage Bankers Association reported Wednesday. Refinancings were 19 percent higher than the week before, while applications for mortgages to purchase houses rose 13 percent, the group said. Refinancing accounted for 79 percent of all applications for mortgages. The average interest rate for 30-year fixed mortgages was 3.71 percent and 3.23 percent for 15-year loans. — Alan J. Heavens#
March 2, 2012 |
WASHINGTON - The average rate on the 30-year mortgage edged down this week to hover again above record lows. Cheaper rates have spurred modest improvements in the battered housing market, but not enough to signal a recovery. Mortgage rates have been below 4 percent for more than three months. That has made home-buying and refinancing more attractive for those who can qualify. Home sales have improved and the four-week average of home-purchase applications was up a smidge last week, according to the Mortgage Bankers Association.